The new figure shows that Ghana’s debt increased by 1.3 billion cedis from May to June 2017 as the month of May recorded a debt stock of 137.3 billion cedis.

The figures were contained in statement published by the Bank of Ghana after the Monetary Policy Committee (MPC)meeting on Friday, September 20, 2017.

The data showed that the external component of the debt was 74.6 billion cedis, representing 36.9 percent of the GDP, while domestic debt was 63.9 billion representing 31.6 percent.

In the same period under review, Ghana’s debt to GDP ratio stood at 68.6 percent, below the end of year target of 70 percent mark.

Bank sector performance

In the banking sector, the publication showed that total assets of banks as at July stood at 89.1 billion cedis, representing a 32.9 percent growth.

Total deposits was 55.7 billion cedis representing 32.0 percent in July 2017 while there was a marginal improvement on Non Performing Loans of banks as July recorded 20.9 percent compared to 21.2 percent in June 2017.

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By: Lawrence Segbefia/citibusinessnews.com/Ghana

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